The Board of Directors of Data Respons ASA has approved a capital increase of 73 000 shares in connection with the company's employee share saving scheme.
Data Respons has an employee share saving scheme directed at all employees in Data Respons group of companies in order to create dedication for value creation and ensure convergence of the financial interests of the employees and the shareholders, with reference to the stock exchange notice June 6, 2018. Employees can subscribe to shares at a 20 % discount of market value on the time of share subscription. The shares are subject to a lock-up period of two years, and given that the employee is still employed in Data Respons, the employee will receive one bonus share for every fifth share purchased at the end of the lock-up period.
In addition to the program for all employees described above, Data Respons has a share savings program for the senior management with the same terms as the share savings program directed at all employees, however without any financing offered. A maximum of 100 000 shares per annum can be subscribed under this program, and the approved share capital increase of 73 000 shares is allocated to the share saving program for senior management.
On the basis of an authorization granted by the Annual General Meeting held on April 19, 2018, the Board of Directors has in this regard resolved to increase the share capital by NOK 36 500 from NOK 29 122 086.50 to NOK 27 158 586.50 through the issue of 73 000 new shares with a nominal value of NOK 0.50 per share. The total number of outstanding shares will increase from 58 244 173 to 58 317 173 shares after the issue.
The subscription price per share will be equal to the weighted average traded price of the Data Respons share on the Oslo Stock Exchange today the October 18, 2018, less a discount of 20%.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913 90 918.
Rune Wahl, CFO, Data Respons ASA, tel. + 47 950 36 046.
About Data Respons
Data Respons is a full-service, independent technology company and a leading player in the IoT and the embedded solutions market. We provide R&D services and embedded solutions to OEM companies, system integrators and vertical product suppliers in a range of market segments such as Medical, Industry Automation, Smart grid/Smart home, Bank and Insurance, Automotive, Defence, Maritime, Energy and Telecommunications.
Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has offices in Norway, Sweden, Denmark, Germany and Taiwan. www.datarespons.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.